G
GinaB
Guest
I bought an investment property in 2006 as I owned no home of my own and it seemed like a good idea at the time. But since then my husband and I have divorced (he has his own debt probs) and I've been lumped with this property and I also rent a home for myself and the kids.
The repayments are about to hit €1,200 in September and the PTSB won't talk until I default which I don't want to do. I only make €450 in rent and my income won't support all these outgoings. I tried to change my DD to a fixed SO that I can afford but it can't be done according to my bank. I've phoned and written to the PTSB but no joy.
September is looming and the only thing I can do is cancel the DD and pay by cheque the €500 I can afford. It's a mess and I am pretty scared. I got the mortgage through a broker that is not defunct. PTSB restructuring dept told me that going to a branch or getting a solicitor involved will not make any difference.
I'm on a tracker and they have said that if I come off the tracker I can remain on interest only for 2 more years at the higher rate, which will involve circa €650 per month repayments. I don't know what to do! I could take this offer and try to sell the property which has a mortgage of €220k and is in a vg seaside location. Any help would be much appreciated. Gina
The repayments are about to hit €1,200 in September and the PTSB won't talk until I default which I don't want to do. I only make €450 in rent and my income won't support all these outgoings. I tried to change my DD to a fixed SO that I can afford but it can't be done according to my bank. I've phoned and written to the PTSB but no joy.
September is looming and the only thing I can do is cancel the DD and pay by cheque the €500 I can afford. It's a mess and I am pretty scared. I got the mortgage through a broker that is not defunct. PTSB restructuring dept told me that going to a branch or getting a solicitor involved will not make any difference.
I'm on a tracker and they have said that if I come off the tracker I can remain on interest only for 2 more years at the higher rate, which will involve circa €650 per month repayments. I don't know what to do! I could take this offer and try to sell the property which has a mortgage of €220k and is in a vg seaside location. Any help would be much appreciated. Gina